taxing question

[mrdonuts]

can i move to a country that has a lower tax on pensions than the uk (just about anywhere it seems) and a double taxation agreement and get my pension without being taxed at the uk rate?

[expat]

can i move to a country that has a lower tax on pensions than the uk (just about anywhere it seems) and a double taxation agreement and get my pension without being taxed at the uk rate?

"It seems". Why does it seem so? Do you have some examples? Most countries levy the equivalent of NICs on all income (whereas the UK does not on pensions), so the total rate of compulsory deductions may be higher, even if it is not called "income tax".

If you mean state pension, residence in another country while you draw your pension may mean that it is no longer indexed.

Why not ask HMRC and DWP?

[NotAllThere]

Perhaps he's retiring to Saudi Arabia.

[DimPrawn]

can i move to a country that has a lower tax on pensions than the uk (just about anywhere it seems) and a double taxation agreement and get my pension without being taxed at the uk rate?

Cyprus has a deal with the UK. Your pension is taxed at a flat rate of 5%. You can draw your private or state pension or both.

HTH

[Tingles]

Malaysia seems nice....

No tax on foreign income - they're also pushing a Malaysia second home programme...



T

[tim123]

can i move to a country that has a lower tax on pensions than the uk (just about anywhere it seems) and a double taxation agreement and get my pension without being taxed at the uk rate?

This is impossible to answer without knowing how much your pensions is worth.

A large percentage of pensionsers in the UK pay 0% tax on their pension

tim

[Cyberman]

This is impossible to answer without knowing how much your pensions is worth.

A large percentage of pensionsers in the UK pay 0% tax on their pension

tim

.... and that percentage is growing every year that Labour are in power.

[expat]

.... and that percentage is growing every year that Labour are in power.

I don't think so, not with 800,000 more civil servants since 1997, all with inflation-proofed final salary pensions.

[Cyberman]

I don't think so, not with 800,000 more civil servants since 1997, all with inflation-proofed final salary pensions.

Perhaps I should have qualified my statement with 'in the private sector'.

Imagine the annual cost of those 800,000 non-jobs. If we say an average of 30K salary, that is a staggering 24 Billion pounds a year !!! No wonder that we are in a mess.

[Bagpuss]

You assume those people don't pay any tax or spend any money